Youths make almost half of the Kenyan population according to the last census. This is also the population that is highest in terms of unemployment. A majority have opted to seek employment in the informal ‘Jua Kali’ sector, a sector collectively included in the term Small and Medium Enterprises (SME).
This sector accommodates most of the youth because it is flexible and it does not discriminate against them especially on grounds of academic qualifications. However, the youth still lack finances to start and sustain their businesses because they have no access to funds. There’s a solution to this and it lies with Chase Bank.
Chase Bank has announced that it has set aside over 60 billion shillings to lend to Small and Medium Enterprises as well as entrepreneurs. The announcement was made at the Global Entrepreneurs Summit 2015 held in Nairobi; an event which was hosted by President Uhuru Kenyatta and the President of the United States of America Barack Obama.
These funds from Chase Bank will see the youth promote and support their entrepreneurship skills in an effort to spur the Small and Medium Enterprises markets and help them grow for the betterment of the economy and the lives of the youth in general.